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Halliburton nearing $559 mln Nigeria (kickback scandal) settlement [View All]

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sabra

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Mon Jan-26-09 11:07 AM
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Halliburton nearing $559 mln Nigeria (kickback scandal) settlement

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Source: AFX UK Focus

Halliburton Co on Monday said it was nearing a $559 million settlement with the U.S. over a Nigerian kickback scandal.

Under the prospective settlement, the oilfield services company would pay $382 million to the U.S. Department of Justice for the role its former unit KBR played in payments to Nigerian officials over a natural gas project. It will also pay $177 million to the Securities and Exchange Commission in "disgorgement."

Shares of the company rose 5.4 percent to $19.25. It also reported quarterly results on Monday.

Read more: http://www.iii.co.uk/news/?type=afxnews&articleid=7134576&subject=general&action=article

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